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Set up a first-year amortization schedule for a $30,000 loan to be repaid in equal installments at the end of each year for 5 years.

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Set up a first-year amortization schedule for a $30,000 loan to be repaid in equal installments at the end of each year for 5 years. The interest rate is 8% compounded annually. (Please make sure that all answers are rounded to the second decimal and no "comma" sign should be included.) Interest Paid Principal Paid Ending Balance Period Beginning Balance Payment Amount Year 1 $30000

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